Scout Security Ltd raises US$200k under loan note facility

Scout Security Ltd (ASX: $SCT) has successfully raised US$200k (AU$306k) of additional capital into its Loan Note Facility. The company has now accepted US$2.28m (AU$3.49m) in aggregate from investors under this facility. The fresh funding will support ongoing working capital requirements as the company progresses existing and potential growth opportunities.

Executive Commentary

The fresh funding secured through the Loan Note Facility will bolster our working capital, enabling us to pursue our growth initiatives and capitalize on potential opportunities. We are pleased with the support received from Related Parties and remain committed to delivering on our strategic objectives. The Company's focus on providing a simple and affordable DIY approach to security has been well-received, and we aim to continue empowering residential homes, small-to-medium businesses, and multi-tenant buildings with our innovative product suite.

Summary

Scout Security Ltd (ASX: $SCT) has successfully raised US$200k under its Loan Note Facility, bringing the total accepted aggregate to US$2.28m. The additional capital will support the company's ongoing working capital requirements and its pursuit of existing and potential growth opportunities. The Company's commitment to providing a white label security-as-a-service platform and product suite has garnered recognition, positioning it as a key player in the industry. With a focus on flexibility and integration with other loT devices, Scout aims to continue its trajectory of empowering residential homes, small-to-medium businesses, and multi-tenant buildings with innovative security solutions.